Kosmos says Senegal has no plans to nationalise Yakaar-Teranga; shares down

Kosmos Energy

11/12/2025 15:08

** Shares of oil and gas producer Kosmos Energy KOS.N down ~3% at $1.00

** Company says Senegal's energy ministry has confirmed the country has no intention to nationalize the company's Yakaar-Teranga project

** Kosmos owns 90% stake in Yakaar-Teranga project, with the remaining held by state-owned Petrosen

** Both cos were looking for at least one more partner to enter project, but so far they have not succeeded

** Kosmos will work with Petrosen to transfer the licence back to Senegal on, or before, the licence expiry in July 2026, if it does not find a partner by then - KOS

** KOS' stock also pressured by over a $1 fall in oil prices O/R

** Including session's moves, KOS down ~70.5% YTD

 (Reporting by Dharna Bafna in Bengaluru)

 ((Dharna.bafna@thomsonreuters.com))